Justin Stopped at the Gas Station on the Way to Campus

question 90

Essay

Justin stopped at the gas station on the way to campus and bought four candy bars, two 20-ounce bottles of juice, and 10 gallons of gas. His marginal-utility-to-price ratios are 3.2 for the candy bars, 4.8 for the juice, and 5.7 for the gas. Explain why this set of purchases did not maximize Ryan's utility and how could he have increased his utility.

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Definitions:

Familiar Words

Refers to words or phrases that are well known or easily recognized by most people.

Visual Cortex

The part of the cerebral cortex that processes visual information, located in the occipital lobe of the brain.

Speech Muscles

The muscles involved in the production of speech, including those in the tongue, lips, jaw, and throat, crucial for articulation and voice modulation.

Eye Muscles

The six muscles attached to each eyeball that control its movements and allow it to look in different directions.